Replacing the definition of "charitable beneficiaries" with "qualified charities" in the technology-enabled fiduciary financial institutions act.
Authorizing the state banking board to deny, suspend or revoke a charter of a fiduciary financial institution in certain circumstances, requiring fiduciary financial institutions to purchase a surety bond and establishing a civil money penalty for violations of the technology-enabled fiduciary financial institutions act.
Providing for financial institutions and fiduciaries.
Including losses from investments in technology-enabled fiduciary financial institutions in Kansas adjusted gross income for income tax purposes.
Providing that fiduciary financial institutions shall be overseen, supervised and examined by the office of the state bank commissioner as a chartered trust company, allowing a fiduciary financial institution to refer to itself as a trust company in legal or regulatory filings or disclosures to existing or prospective customers or investors and authorizing a fiduciary financial institution to exercise fiduciary powers and full trust powers and to engage as a trust company under state and federal law.
Updating provisions of the technology-enabled fiduciary financial institutions (TEFFI) act by making the act part of the state banking code, adjusting and providing certain definitions, reducing the TEFFI charter application fee, authorizing the issuance of certificates and trust certificates, providing for the supervision of TEFFIs by the state bank commissioner and including Kansas nonprofit corporations as qualified charities for the TEFFI income tax credit.
Permit banks to transact business with any one or more fiduciaries on multiple fiduciary accounts
Fiduciary Institutions - Investigation of Financial Abuse and Financial Exploitation - Records Disclosure
Requiring that adoption of new occupational licensing requirements and material changes to existing occupational licenses by a state agency be approved by joint resolution of the legislature unless otherwise ratified by the legislature by the enactment of a bill and providing for notice to agencies and the legislature and a procedure for legislative review of such occupational licensing requirements.
Financial institutions; definition of trust business.